DepEd: Fraudulent auto loan scheme targets public school teachers

MANILA: The Department of Education (DepEd) confirmed that our country’s educators are being the target of a fraudulent auto loan scam.

Per DepEd, public school teachers experiencing financial difficulties are being targeted by the perpetrators. They are offered enticing car loan deals in exchange for cash, including the downpayment for their chosen unit.

To draw more financially challenged educators into their racket, the crooks lure them by promising passive income in a transport network vehicle service if the loan is “approved.”

Unknown to the victims, the perpetrators have connections to some car dealerships and bank employees who will facilitate a pre-arranged loan approval.

The poor teachers are then abandoned by the perpetrators once the cars have been mortgaged and turned over to them.

“DepEd shall continue its close coordination with the authorities to apprehend the individuals behind this and further protect the welfare of teachers against such illegal activities. The Department will also conduct debriefing, counseling, and psychological first aid to the teachers victimized by this scheme,” DepEd wrote in a statement.

To date, the country’s primary education division said that there are 29 cases filed against the suspects. The fraudulent auto loan scheme, DepEd stated, originated in Pampanga according to a recent investigation.

DepEd also warns its non-teaching personnel, as well as the public, to remain vigilant against financial scams.

Photos from DepEd Philippines Facebook page

Also read: 

LTFRB OKs temporary price hike for PUJ

LTO confirms enough supply of plastic cards for DL renewal

MDPPA celebrates 50th anniversary